Tariff rate of GST payable for sale of Pharmaceutical products in India

Pharmaceutical Products falls under HSN code chapter 30 of GST commodity tariff schedule. The details about GST rate changes on sale of Pharmaceutical Products are being updated here. The notification changes on exemptions on GST on sale of Pharmaceutical Products and other circulars related to GST on Pharmaceutical Products are updated in this website.

1. GST HSN chapter code 3001 Glands and other organs fororgano-therapeuticuses, dried, whether or not powdered; extracts of glands or other organs or of their secretions for organo-therapeutic uses; heparin and its salts; other human or animal substances prepared for therapeutic or prophylactic uses, not elsewhere specified or included

4. GST HSN chapter code 3004 Medicaments (excluding goods of heading 30.02, 30.05 or 30.06) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale, including Ayurvaedic, Unani,homoeopathicsiddha or Biochemicsystemsmedicaments, putup for retail sale.

"brand name" or "trade name" means a brand name or a trade name, whether registered or not, that is to say, a name or a mark, such as symbol, monogram, label, signature or invented word or writing which is used in relation to such specified goods for the purpose of indicating, or so as to indicate a connection in the course of trade between such specified goods and some person using such name or mark with or without any indication of the identity of that person.

Goods and Service Tax (GST) rate tariff in India is designed in 6 categories of goods and services. Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively. Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%. The most essential goods and services attract nil rate of GST under Exempted Categories. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST.

The GST rate on pharmaceutical products are expected to be imposed at 12%.

GST on pharmaceutical products are expected to be imposed in India. Some of the most essential commodities under pharmaceutical products are expected to be included in the Exemption list of GST in India.